PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 17,793 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $264,048.12. Following the transaction, the chief executive officer now directly owns 30,896 shares in the company, valued at approximately $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PubMatic Stock Performance

Shares of PubMatic stock opened at $15.33 on Friday. The stock’s fifty day moving average is $15.69 and its 200 day moving average is $16.63. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The stock has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40.

Wall Street Analyst Weigh In

PUBM has been the topic of several research analyst reports. Macquarie restated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank assumed coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada dropped their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Founders Capital Management increased its holdings in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic in the second quarter worth $29,000. Versor Investments LP increased its stake in shares of PubMatic by 8.2% in the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after purchasing an additional 1,677 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of PubMatic during the 2nd quarter valued at $38,000. Finally, Mesirow Financial Investment Management Inc. lifted its stake in shares of PubMatic by 25.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock valued at $247,000 after buying an additional 2,453 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.